Byju’s CEO Expresses Commitment Amidst Ongoing Crises
In a recent email sent by Byju Raveendran, co-founder and CEO of Byju’s, the edtech giant, he reiterated his unwavering dedication to the company and addressed the current challenges it is facing. The email, which followed a town hall meeting, emphasised Raveendran’s commitment to continuing his tireless efforts for at least 30 more years.
In a heartfelt message acknowledging the employees, Raveendran expressed his deep connection to the organisation, stating, “This company is not just my work, it is my life.” He revealed that for the past 18 years, he had devoted over 18 hours a day to Byju’s, pouring his heart and soul into its mission. Determined to persevere, he expressed his desire to maintain this level of dedication for the foreseeable future.
Deloitte’s decision to withdraw as the company’s auditor, was also addressed in the email. Raveendran clarified that this departure was mutually agreed upon and had no bearing on the recent exit of three board members. However, he acknowledged that the organisation was facing challenging circumstances, emphasising that the email did not intend to trivialise the “tough headwinds” they were facing.
Notably absent from Raveendran’s message were references to specific issues such as layoffs, appraisal delays, and the postponement of variable pay and provident fund disbursements. Instead, he acknowledged these difficult decisions, including the layoffs, as a “last resort” made with a heavy heart. Raveendran expressed his empathy for team members facing the ‘reality’ of downsizing and reassured them of Byju’s steadfastness, declaring, “We have not come this far to only come this far.”
Byju’s, founded in 2011 by Raveendran and his wife Divya Gokulnath, has become a prominent player in the edtech industry. The company’s commitment to revolutionising education through innovative technological solutions has garnered widespread recognition and user adoption. However, recent challenges and crises have put the organization under scrutiny.
The email from Raveendran comes at a time when the resignation of Deloitte, one of the leading auditing firms, raised eyebrows and prompted speculation about the underlying reasons. Raveendran’s clarification aims to dispel any misconceptions and reaffirm the stability and resilience of Byju’s as it navigates through these uncertain times.
As the edtech sector continues to evolve rapidly, Byju’s remains a force to be reckoned with, continually expanding its reach and impact. Raveendran’s unwavering dedication, combined with the company’s track record of success, instills confidence that Byju’s will overcome the current obstacles and emerge stronger.
